SBA Disaster Loan Program enhanced due to challenges from Delta Variant
Increased loan cap to $2 Million, expanded use of funds to pay and prepay business debt, streamlined review processes, and deferred payments; first approval and disbursement of loans of $500,000 or less also introduced.
September 16, 2021
WASHINGTON, DC—On September 9, the U.S. Small Business Administration (SBA) Administrator Isabella Casillas Guzman announced significant enhancements to the COVID Economic Injury Disaster Loan (EIDL) program, a federal disaster relief loan designed to better serve and support our small business communities still reeling from the pandemic, especially hard-hit sectors such as restaurants, gyms, and hotels. The SBA is ready to receive new applications immediately from small businesses looking to take advantage of these recent policy changes.
“The SBA’s COVID Economic Injury Disaster Loan...